Showing posts with label Slovakia. Show all posts
Showing posts with label Slovakia. Show all posts

Thursday, 13 October 2011

Contagion

A word that has up to now only applied to the mounting Euro crisis, is more and more being used to describe the growing political EU disobedience, It's becoming pretty clear that the EU political class is running scared. As an example here's the Guardian on the Slovakian 'no' (my emphasis):
As the dust settled after Slovakia's rejection of the euro bailout, politicians all over Europe were trying to figure out how a tiny party with just 22 MPs and only 300 members had managed to put such a spanner in the works – a feat that had eluded far bigger eurosceptic parties in the other 16 eurozone countries.

The soon-to-be-ex-prime minister, Iveta Radicova, was in no doubt that it was the fringe Freedom and Solidarity (SaS) party, a member of her own ruling coalition, that had sabotaged the bill and caused the government to collapse. In an ill-tempered press conference following Tuesday night's vote, she railed at the "irresponsible" and "populist" politics of the SaS, which she said had failed to realise that "we are a small and export-oriented economy, and we need partners around us".
Slovakia will undoubtedly pass the bailout measure eventually, as predicted, but what is significant is one by one democratic EU countries, such as; Finland, Germany and Slovakia are starting to say no to Europe:
Slovakia’s cry of defiance has not been entirely pointless. Richard Sulik – the speaker of parliament – has caught a mood of popular disgust that goes far beyond his own country.
The flawed EU 'not even God can sink this' ship has hit the democratic iceberg.

Tuesday, 11 October 2011

Quote Of The Day

Slovakian Parliamentary Speaker and SaS leader Richard Sulík:
“I’d rather be a pariah in Brussels than have to feel ashamed in front of my own children,”

Wrong Answer, Vote Again



Slovakia is the last country to approve the July bailout for Greece (yes we're still on that one), the vote is due today.

Despite strong public Slovakian opinion against their contribution to the woefully inadequate bailout fund (even the above Slovakian beer commercial mocks the Greeks), we wearily see their politicians adapt the usual tactics to get the vote passed:
"I announced to my coalition partners that I will tie today's vote on our future in Europe with a confidence vote," Radicova said in a decision that follows deadlocked talks in her four-party coalition on expanding the fund.

"It's unacceptable for a prime minister to allow the isolation of Slovakia," she told reporters after the liberal coalition Freedom and Solidarity (SaS) party insisted it would vote against the crucial euro area deal.

"I'm sorry our coalition partner did not accept an offer of a possible compromise," Radicova said, adding she hoped the changes to strengthen the European Financial Stability Facility could be salvaged with opposition support in a repeat vote.

"It's my great wish to have a successful vote today but if it's not successful, we'll have to hold a repeat vote," said Radicova.
It's the classic; "it's vote of no confidence in the Government, we'll be isolated, we'll vote again if it's the wrong answer" kind of bullying when it comes to EU matters

Thursday, 26 August 2010

Euro Bailout Woes

The Euro crisis hasn't gone away as the Tap has noted here:
We've heard all the spin about the bank stress tests, and how the Euro will be protected, for example. But in the same space of time that this has been happening, the movement between the Euro and the Swiss Franc has been telling a very different story. You needed 1.50 Swiss Francs to buy one Euro six months ago. Today you need just over 1.30. It seems that the real money is not listening to the assurances that the Euro will survive, but getting out as fast as it can, to Switzerland or Tokyo.
A situation not helped by more and more cracks in EU unity regarding a bailout for Greece. First it was Slovakia in early August:
Slovakia’s parliament rejected the nation’s participation in a loan for Greece, ending the European Union’s unity in handling the sovereign-debt crisis.

The funds were to be part of a package designed to help Greece avoid default. Euro-are governments in May agreed to provide 80 billion euros of loans, with an additional 30 billion euros from the International Monetary Fund, in return for a Greek pledge to cut its budget deficit. Slovakia’s decision won’t prevent Greece from drawing on the loan, the EU said.
And now it appears that the Czech Republic has waded in and ruled out their help for Greece. Prime Minster Petr Necas tells the Austrian newspaper Kurier - although not providing many details (translated from Google):
Q What is the position of the Czech Republic plan to rescue Greece from the?

A We take the rescue plan note does not intend to go with the Greece-help. For the Czech Republic, the current delegation of financial powers from national level to the EU one not to be exceeded as crossing a line.


Q As you can see the position of the Czech Republic in the EU on enlargement?


A The Czech Republic is a responsible member of the European Union. We are proponents of budget discipline and the consistent enforcement of the Stability and Growth Pact. We are clearly in favour of its future expansion: Croatia and other countries in the region, also to Turkey or Iceland - each country, the interest in EU membership and has met the conditions should be given the opportunity to enjoy the benefits of the single market; that I consider the main advantage of the EU.
And he rules out Czech accession to the Euro:
Q Is the Czech Republic's accession to the euro zone is already in sight, and when?

A This raises the question of whether the euro zone after the problems they

is experiencing at all is able to absorb new members, even if they meet the Maastricht criteria, I will not call for an appointment do so.
As
German economist Professor Wilhelm Hankel put it:
"Germany and the few other still economically stable countries in the Eurozone are sinking money into a barrel without a bottom."
And already some are pressing the retreat button.